Personal Finance for Military, Veterans, and their Families
In early August, President Trump signed a presidential memorandum that deferred payroll tax collection from September 1, 2020, through December 31, 2020. This is a big change that impacts all military members as well as many government employees and civilian workers. However, this is only a temporary change. It is not permanent and it did […]
Military members are known for their honor, duty, and service to their country. And these sentiments are instantly conveyed any time a man or woman dons a uniform. There are uniforms for every day and formal occasions, formal, covers, medals, awards, shoes, swords, belts, and more comprise a military uniform. The Department of Defense knows […]
The proposed Defense Budget includes a 3.0% pay raise for all military members, including members of the Guard and Reserves. We have made this 2021 drill pay chart based on the 2020 Drill Pay chart combined with the 3.0% pay raise. It’s important to know that the pay raise is only a proposal until it […]
The 2020 military pay charts go into effect on January 1, 2020. This page includes the 2020 drill pay charts, which applies to members of the National Guard and Reserves. The drill pay charts include the base pay for each pay grade, as well as the amount you will earn per drill and per four […]
The White House has proposed a 3.0% military pay raise for 2021. We have put together these 2021 military pay charts based on the current proposal. Please keep in mind this pay raise must still be voted in by Congress before it will become law. If approved, the 2021 military pay charts go into effect […]
When you shuffle from one duty station to the next, there’s enough up in the air that the last thing you need to worry about is having enough money for food and meals. The Basic Allowance for Subsistence (BAS) benefit is meant to offset the costs of a servicemember’s meals. Let’s take a look at […]
The military provides servicemembers with either military housing or a housing allowance, referred to as Basic Allowance for Housing, or BAH. Standard BAH rates are based on the servicemember’s geographic duty location, pay grade, and dependency status (With Dependents or Without Dependents). The government assesses the rent and utility costs for over 300 different Military Housing Areas […]
The Department of Defense (DoD) frequently reassesses and updates the areas that qualify for Imminent Danger Pay (IDP). Imminent Danger Pay is a benefit given to troops serving in locations that are deemed to be hostile or dangerous. The benefit provides troops in imminent danger areas a payment of $7.50 per day, up to the […]
Congress voted in a 3.1% pay raise for the 2020 calendar year. The 3.1 percent cost-of-living pay increase for military members is the largest increase in 10 years. This pay raise also applies to members of the Reserves and National Guard. You should see this pay raise in the first paycheck of the year, which […]
The 2019 military pay charts go into effect on January 1, 2019. You will see the corresponding income in your first paycheck, which should arrive on January 15, 2019. Military members will receive a 2.6% annual cost of living adjustment. While this doesn’t sound like a huge raise, it is actually the largest military pay raise […]